Yesterday I viewed a house in Northbrook that the owners want to sell. In the afternoon as part of my market analysis I looked at the Northbrook market for 4 or more bedroom houses.
For the last quarter (April – June) the median sales price for 4+ bedroom houses in Northbrook is up 2.7% from the same period last year and 10.6% higher than 2 years ago. Average sale prices are up 8.2% from a year ago and up 18.2% from 2 years ago. The larger increase in average sale price over median sales price shows that more houses in the higher price ranges were sold this year than in the past 2 years.
The numbers for all houses in Northbrook are also up, but not as much indicating that larger homes have appreciated better than smaller homes in Northbrook. The median sale price for last quarter for all houses is up 2.4% from a year ago and up 9.9% from 2 years ago. The average sale price is unchanged from a year ago and up only 9.9% from 2 years ago.
Market times for 4+ bedroom houses are up 88% from a year ago which had no increase from 2005. Market times for all houses in Northbrook are up 73% from a year ago which was up 27% from 2005.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
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Fran – your statistical analysis, and much more importantly for your clients, the conclusions you are able to draw based on the numbers is impressive. A strong value you bring to your clients is that not only do you know real estate, but you know business and have strong analytical skills. Now — can you use those same skills to let us know if the Cubs will win a World Series in our lifetimes?
Happy 4th of July!
Diane